Jumbo Interactive set for bumper half-year
News on 11 Dec 2014
News on 11 Dec 2014
The Australian online lottery specialist Jumbo Interactive has issued a trading update advising that sales in H2-2014 are buoyant in the range A$62 – A$65 million, and the company expects to improve performance over the first half of the year by 23 percent.
The provider reports that customer accounts at OzLotteries.com reached a landmark 1.81 million on 30 November 2014.
Jumbo expects profit before tax to improve from a loss of A$500,000 to a profit of A$100,000… a remarkable turnaround but still unimpressive compared with a profit of A$2.9 million achieved in the prior full year.
CEO Mike Veverka commented this week that the record sales in Australia are the result of a growing database and a good run of jackpots, including a A$70 million powerball.
“This clearly demonstrates continuing growth in the internet lottery market in Australia,” he said.
In Germany, Jumbo’s product launch in July across all 16 German states has delivered disappointing player acquisition statistics due to a lack of differentiation between its product and others on the market.
A new version is due for release in December 2014 with the first of a series of premium product enhancements that will continue in 2015 with further releases.
“It’s clear from the first few months that a premium product offering is essential in Germany”, Veverka said. “Our first premium product – Jumbo Syndicates – will be released this month with further premium products to be released in the second half.”
